Several readers asked about what to do with a 10pc or 20pc deposit - use Help to Buy or go down the traditional mortgage route?

Richard said: "So far the only Help to Buy rates that have been announced apply to 5pc deposits. And that's why the rates are high.

"If you've got 20pc or even 10pc to put down you should definitely to be looking at the wider range of "normal" market rates, which will be much lower."

Because of the high rates, Richard said if he had the option, he would try to build a bigger deposit and qualify for a more 'normal' mortgage.

Buyers should remember that there are onerous checks on affordability. So if you have saved up a deposit but have a low income, you will be constrained in how much you can borrow with Help to Buy as with any other mortgage.

Overall, Richard said buyers should wait until there is an improvement in mortgage rates before jumping into Help to Buy, as we know there are more deals to come.